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QuickBooks problem, beginning balance doesn't match bank records

There has been a change somewhere in QuickBooks of two months or before, and the discrepancy report shows zero. I tried to "undo last reconciliation" in QB banking. I even tried to reconcile one month before. But the starting balance of last month is way of kilter from last month's bank statements. I matched all the deposits and checks from the bank statements, and they match.

Does anyone have any tips to find discrepancies in Quickbooks? I am trying to reconcile month by month from previous month, but things are getting tangled in the balances. I just cannot locate the discrepancy!!!! :*-(

Help!!!!

Thanks in advance

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Anonymous

Asked by Anonymous at 10:17 PM on Oct. 23, 2009 in Money & Work

Answers (3)
  • Let me know what you find out. I can't find my error either. EXCEPT....you know when you download from the bank it shows the banks adjusted balance, but only downloads the cleared items so when you reconcile it will be off. It took me a week to figure that out. :(
    Anonymous

    Answer by Anonymous at 10:20 PM on Oct. 23, 2009

  • I had that happen once - i think what it did was double download transactions from my bank. It was crazy and I had to go thru and do a backwards reconcile. which was i started at the bottom of quickbook account register and went line by line and marked off what had cleared on my banks print off. If it wasnt there then i deleted it - but make sure if its a check that hasnt cleared you enter it back in. It was long and tedious cuz the double down load ended up being months back but did it long after i had reconclied those months. and it had also shown these new entries as reconciled even tho i never personally marked them as reconciled.

    technology today - love it, hate it. GOOD LUCK
    roxyann76

    Answer by roxyann76 at 11:59 PM on Oct. 23, 2009

  • This is one of the reasons that I hate Quickbooks. It is WAY too easy to delete a transaction from a previous period and there is no way to detect it. Not to mention that QB is not true double-entry accounting.
    You will need to go back to the last month where your beginning and ending balances matched. Print all every transaction from the GL coded that corresponds to the checking account. Download the transactions from the bank’s website for the same time period. Going line-by-line, cross off every matching transaction. If you still can’t find your discrepancy, then you will need to restore your backup from the last matching month and re-enter all of your data.
    Then, get a copy of Peachtree; you can get it on eBay for under $20 new.
    rkoloms

    Answer by rkoloms at 8:23 AM on Oct. 24, 2009

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